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. we know from private organizations that infrastructure in the united states needs repair. we know from examples in other countries that if you have proper infrastructure it over time attracts business and we can shed this whole nonsense about taking on debt for our grandchildren if we create a place where it's fascinating and profitable to do business. >> and it's economic security for your grandchildren. i guess this becomes a message that has to change here where instead of talking about spending and federal government getting bigger and more involved in the economy and your life we have to be talking about investing and using the government the way it should be to invest and put us in the right position so we can compete with the rest of the world that by the world is going crazy doing infrastructure spending using cash in many cases to do it, something we don't have. >> just changing the words won't fix it. obama has also said investing as a synonym for spending. investing has to be investing. >> if we can't get behind a no-brainer like this, a public/private infrastructure ba
certainty to retain its faith in the united states? >> well, i think you can reconcile lots of these in a growing economy. i think that's critical, ali. a lot of these inconsistencies can be reconciled if the economy were growing. it is when the pie starts to shrink or doesn't grow fast enough that these become so divisive and become paralyzinpa. we know lots of companies that have strong balance sheets, that have lots of cash on their balance sheets, but they're not investing. ask them why and they say we don't know what the environment looks like. tell us what the environment looks like so we can calculate the potential return on our investments and we'll invest. if uncertainty prevails, the risk premium is very high and proi yao price out a lot of investment activity that's good for everybody. >> or they might go somewhere elsewhere they have certainty even though it might not be a preferential investment environment. all of this fiscal cliff madness is about spending and revenue. in other words, what you would call a budget. there is nothing more broken in washington tha
't go over it on your credit card. and the united states government can't spend more than what its credit limit is or its debt limit. now ali velshi at cnn says that has no relation to spending. >> that's right, rush, the debt ceiling was create sod the congress wouldn't constantly need to authorize congress to borrow to raise more money. it doesn't authorize any new spending it authorizes payment. it does not increase deficits. it allows the treasury to pay for the things that the u.s. government has already bought. if the congress doesn't raise the debt ceiling. treasury won't be able to pay the bills and the u.s. government will start defaulting on some of its obligations. here's what happens on february 15th of this year. the federal government will take in an estimated $9 billion in revenue. that's the good news. but compare that to the $52 billion in bills that will need to pay, everything from interest on the debt to pay for members of the military, the bipartisan policy center. estimates that roughly 40% of the bills for the month would go unpaid. now what's the consequence
in the united states, do you agree with my premise? >> no, i don't, ali. hello, by the way. what the debt creeling is all about is providing the president the authority to borrow more money, put that on the backs of our children and grandchildren. there's no doubt we are not going to default on our debt. what the debt ceiling allows -- what the debt ceiling allows congress to do is continue to deficit spend. if we would stop incurring deaf zits we wouldn't need to increase the debt ceiling. it's not about paying past bills. you get into the cash flow aspect of this thing. in order to increase the debt ceiling we are actually just basically giving the president the authority to put that debt burden on our children and grandchildren. it's not about spending at all. >> let me ask you a couple questions here. >> deficit spending. >> you said there's no doubt we are not going to default on our payments. the math indicates that if at some point we don't increase the debt ceiling, why won't we? >> our interest payment this year is under $250 billion. we're going to bring in $2.5 trillion in tax
four of the top risk we put out in 2013. the question is what's the impact on the united states as opposed to a china, russia, brazil. the u.s. is the world's largest economy, the u.s. dollar is a global reserve currency. housing continues to pick up, unemployment is going down, american corporations are the world's largest and they're sitting on lots of cash, which, you know, sort of quixotically it's precisely that strength that allows washington to continue to be so incredibly dysfunctional. yeah, i'm feeling pretty bad over whae's coming out of capitol hill in the next few months but it's not medication that leads me to believe america is stable. >> even washington may not be able to mess up what's going on. christine romans, we've been talking about the consequences of not having a budget, a serious plan to deal with debt and deficits. but a number of prominent democrats point out the debt problem isn't that much of a problem. money is basically free many america and republicans should stop obsessing about it. >> a new narrative and they're getting bolder with it. the debat
Search Results 0 to 9 of about 10 (some duplicates have been removed)

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